NEW YORK (Reuters) – U.S. stocks edged up on Thursday, erasing early losses as investors brushed off disappointing economic data and bet on a further rally in equities.
The gains came after major indexes hit multi-year highs in the previous session. The enthusiasm in the market had pushed the Nasdaq to a 10-year high, and the Dow is now up 10 percent and the S&P 500 up 8 percent for the year.
Stocks were pressured at the open after a report showed new U.S. claims for unemployment benefits surprisingly rose last week to their highest level since January.
via news.yahoo.com
